Loan Comparison: 4.46% vs 6.5%
6980 121st Place, Thornton, CO 80602 · 5bd/3ba · $615,000
List Price
$615,000
Assumable Rate
4.46%
Remaining Balance
$377,243
Equity Gap
$237,757
Loan Type
FHAAdjust Your Scenario
$30,750
$30,750$237,757
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.46% (FHA)
Blended Rate: 5.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,693/moAssumable @ 4.46% + gap loan
$3,350/moAssumed loan: $1,902/mo
Gap financing: $1,447/mo
$343less per month with the assumable
Your Savings on This Property
6980 121st Place, Thornton · 4.46% FHA vs 6.5% conventional
$343
per month
$4,115
per year
$123,464
over 30 years
$123,464
interest saved
How gap financing works: The equity gap ($237,757) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,750, 5% of purchase price) and a second mortgage for the rest ($207,007 at 7.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
🏠
Back to This Listing
View photos, details, and request a showing for 6980 121st Place.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.